Ann: Indicative and Non-Binding Proposal and Trading Update, page-85

All very weird…..

Former ASX-listed tech market darling Appen has been left high and dry by its Canadian suitor Telus International, less than 10 hours after the company announced the unsolicited $1.2 billion non-binding indicative bid.Appen’s chief executive Mark Brayan. Steven SiewertThe board of the local artificial intelligence data services company said it was open to negotiate with Telus, if it boosted its $9.50 a share bid and signed a confidentiality agreement.But Telus revoked its proposal on Thursday afternoon in a surprise to Appen, which believed it was poised to sign the agreement.The multibillion dollar Canadian customer experience and IT services company did not provide any reason for the sudden change of heart.Sources close to Appen said the companies had been meaningfully engaging for a few weeks and the withdrawal by Telus took them by surprise.Street Talk broke the news that Appen was being pursued by a potential acquirer on Wednesday evening, before the proposal was confirmed by Appen on Thursday morning.